Gallium Nitride Semiconductor Devices
How Are the key drivers contributing to the expansion of the gallium nitride semiconductor devices market?
The gallium nitride semiconductor devices market is projected to expand due to the growing demand for consumer electronics. Being 1,000 times faster than silicon in terms of mobility, Gallium Nitride is a popular choice in the manufacture of consumer electronics as it is less costly than normal semiconductors. For example, LG, a renowned consumer electronics company based in South Korea, reported in its 2022 annual financial report published in January 2023, a sales growth of 12.9% compared to the previous year, with sales topping around $52.70 billion. In addition, LG’s Home Appliance & Air Solution Company had another outstanding year, recording a revenue of $22.5 billion in 2022, a jump of 10.3% from the previous year. Consequently, the surging demand for consumer electronics is fueling the growth of the gallium nitride semiconductor devices market.
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What growth opportunities are expected to drive the gallium nitride semiconductor devices market’s CAGR through 2034?
Recently, there has been impressive growth observed in the gallium nitride semiconductor devices market size. It is predicted to expand from $10.35 billion in 2024, escalating to a worth of $12.25 billion in 2025, with a compound annual growth rate (CAGR) of 18.3%. A variety of factors in the historic period are responsible for this growth, including enhanced government funding, the expansion of emerging markets, a rising demand for semiconductor equipment, a surge in automotive usage, and increasing demand within the consumer electronics sector.
The market size for gallium nitride semiconductor devices is projected to witness swift expansion in the forthcoming years. It is forecasted to advance to $22.36 billion by 2029, with a compound annual growth rate (CAGR) of 16.2%. This predicted growth in the mentioned period is primarily due to the escalating usage of GaN-based elements in the defense sector, the upsurge in the adoption of electric vehicles, rise in venture capital investments, growing urbanization, and a heightened demand for portable electronic devices (ped). Noteworthy trends during this forecasted period include the introduction of GaN 5g multi-modules, innovation in product design, advancements in technology, their application in electric vehicles (EVs) and hybrid EVs, and amplified investments in the semiconductor market.
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What are the emerging trends shaping the future of the gallium nitride semiconductor devices market?
To augment their brand visibility and broaden their semiconductor offerings, enterprises operating in the GaN semiconductor devices market are innovating and bringing out new products. In June 2022, French GaN power supplies and GaN integrated circuit enterprise, Wise-integration, introduced its premier commercial product, named 120mOhm WI62120 half-bridge power circuit. This new addition offers power electronics designers enhancements in power density, performance, and cost-effectiveness. Additionally, Cambridge GaN Devices, a semiconductor firm from the UK that engineers and produces GaN-based power apparatus, unveiled the ICeGaN 650 V H1 lineup in March 2022. This range includes four 650 V solutions that benefit from the mighty potential of GaN-based technology, resulting in up to 50% reduction in power losses. This product series paves the way for the utilization of standard MOSFET drivers and GaN-based technology in apparatus powered by silicon-based devices.
Which growth-oriented segments of the gallium nitride semiconductor devices market are leading the industry’s development?
The gallium nitride semiconductor devices market covered in this report is segmented –
1) By Component: Transistor, Diode, Rectifier, Power IC
2) By Device Type: Opto-Semiconductors, Power Semiconductors, RF Semiconductors
3) By Application: Automotive, Consumer Electronics, Defense And Aerospace, Healthcare, Industrial And Power, Information And Communication Technology, Other Applications
4) By Wafer Size: 2 Inch, 4 Inch, 6 Inch, 8 Inch
Subsegments:
1) By Transistor: GaN HEMTs (High Electron Mobility Transistors), GaN FETs (Field Effect Transistors)
2) By Diode: Schottky Diodes, GaN-based Diodes
3) By Rectifier: GaN Rectifiers, High-Frequency Rectifiers
4) By Power IC: GaN Power ICs, Integrated Power Management ICs
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What regions are leading the charge in the gallium nitride semiconductor devices market?
North America was the largest region in the gallium nitride semiconductor device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gallium nitride semiconductor devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the gallium nitride semiconductor devices market?
Major companies operating in the gallium nitride semiconductor devices market include Texas Instruments Incorporated, Toshiba Corporation, Infineon Technologies AG, Fujitsu Limited, NXP Semiconductors N.V., ams-OSRAM AG, Wolfspeed Inc, Qorvo Inc., Panasonic Holdings Corporation, NTT Advanced Technology Corporation, Enkris Semiconductor Inc, Sanan Integrated Circuit, Navitas Semiconductor, Cypress Semiconductor Corp, ARM LTD, Renesas Electronics Corporation, Saankhya Labs, ASM Technologies, CDIL, Hyundai Electric, STMicroelectronics, Exagan, GaN Systems, UnitySC, Dialog Semiconductor Plc, Cree Inc., Efficient Power Conversion Corporation
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What Is Covered In The Gallium Nitride Semiconductor Devices Global Market Report?
• Market Size Forecast: Examine the gallium nitride semiconductor devices market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the gallium nitride semiconductor devices market for a structured understanding.
• Key Players Overview: Analyze major players in the gallium nitride semiconductor devices market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the gallium nitride semiconductor devices market.
• Segment Contributions: Evaluate how different segments drive overall growth in the gallium nitride semiconductor devices market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the gallium nitride semiconductor devices market.
• Industry Challenges: Identify potential risks and obstacles affecting the gallium nitride semiconductor devices market.
• Competitive Landscape: Review strategic developments in the gallium nitride semiconductor devices market, including expansions, agreements, and new product launches.
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